Islamic Development Bank

Type

Development organization providing technical assistance and funding to the Islamic world.

Brief Overview

In line with its overall objectives of fostering economic development and social progress, the Bank finances productive projects and programs in both public and private sectors in member countries. It invests in economic and social infrastructure projects, provides technical assistance to member countries and assists in the promotion of foreign trade, especially capital goods. The Bank also assists Muslim communities in nonmember countries and undertakes shariah-based research studies in Islamic economics and banking through special funds established for this purpose.

IDB finances development projects in member countries through a number of shariah-compatible modes such as Loan, Leasing, Installment Sale, Equity Participation, Lines of Financing, etc. Besides, its trade financing schemes, such as Import Trade Financing Operations (ITFO), Longer Term Trade Financing Scheme (LTTFS), Islamic Banks Portfolio (IBP), etc., promote trade among member countries.